Published on 5/21/2014 in the Prospect News Municipals Daily.
New Issue: Dallas/Fort Worth Airport brings $178.36 million of joint revenue bonds
By Sheri Kasprzak
New York, May 21 - The Cities of Dallas and Fort Worth, Texas, sold $178.36 million of series 2014B AMT joint revenue improvement bonds for the Dallas-Fort Worth International Airport, according to a pricing sheet.
The bonds (/A+/A) were sold through Raymond James/Morgan Keegan and Cabrera Capital Markets LLC.
The bonds are due 2021 to 2034 with term bonds due in 2039 and 2045. The serial bonds have 5% coupons. The 2039 bonds have a 5% coupon priced at 105.83 and the 2045 bonds have a 4.5% coupon priced at par.
Proceeds will be used to finance improvements and expansions to the airport.
| Issuer: | Dallas and Fort Worth, Texas/Dallas-Fort Worth International Airport
|
| Issue: | Series 2014B AMT joint revenue improvement bonds
|
| Amount: | $178.36 million
|
| Type: | Negotiated
|
| Underwriters: | Raymond James/Morgan Keegan and Cabrera Capital Markets LLC (lead), Loop Capital Markets LLC and Morgan Stanley & Co. LLC (co-managers)
|
| Ratings: | Standard & Poor's: A+
|
| Fitch: A
|
| Pricing date: | May 21
|
| Settlement date: | June 5
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,865,000 | 2021 | Serial | 5% | 117.245
|
| $7,875,000 | 2022 | Serial | 5% | 117.354
|
| $8.26 million | 2023 | Serial | 5% | 115.724
|
| $3.42 million | 2025 | Serial | 5% | 113.25
|
| $5,485,000 | 2026 | Serial | 5% | 111.997
|
| $1.76 million | 2027 | Serial | 5% | 111.068
|
| $6,845,000 | 2028 | Serial | 5% | 110.225
|
| $7.26 million | 2029 | Serial | 5% | 109.163
|
| $11.91 million | 2030 | Serial | 5% | 108.561
|
| $16.46 million | 2031 | Serial | 5% | 108.038
|
| $14,505,000 | 2032 | Serial | 5% | 107.518
|
| $15,585,000 | 2033 | Serial | 5% | 107.001
|
| $11,335,000 | 2034 | Serial | 5% | 106.56
|
| $34,275,000 | 2039 | Term | 5% | 105.83
|
| $31.52 million | 2045 | Term | 4.5% | 100
|
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